Business
Leon's Furniture Limited - 2010 FOURTH QUARTER
Feb. 17, 2011 (Canada NewsWire Group) -- TORONTO, Feb. 17 /CNW/ - Leon's Furniture Limited is...
About this update from Leon's Furniture Limited
[{"type":"text","content":"\n\n\n\n Feb. 17, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Feb. 17 /CNW/ - Leon's Furniture Limited is pleased to announce\n its results for the full year 2010 and the fourth quarter 2010. For the\n year ended December 31, 2010, total Leon's sales were $896,834,000\n including $197,062,000 franchise sales ($897,470,000 including\n $194,290,000 franchise sales in 2009). Net income was $63,284,000,\n $0.90 per common share ($56,864,000, $0.80 per common share in 2009),\n an increase of 12.5% per share. Same store corporate sales were down\n 1.1% from the prior year.\n\n\nFor the three months ended December 31, 2010, total Leon's sales were\n $254,517,000 including $59,820,000 of franchise sales ($255,665,000\n including $57,679,000 of franchise sales in 2009), a decrease of 0.4%.\n  Same store corporate sales were down 2.9% from the prior year fourth\n quarter. Net income was $21,360,000, $0.30 per common share\n ($24,030,000, $0.34 per common share in 2009), a decrease of 11.1% per\n share.  \n\n\nAlthough sales were flat compared to the prior year, we are very pleased\n with the profit improvements this year. We thank our Associates for all\n their efforts this year in improving our productivity and reducing\n overall expenditures which in turn helped improve profitability in\n 2010.\n\n\nDuring the year 2010, the Corporation opened a new corporate store in\n Thunder Bay, Ontario, and welcomed new Leon's franchises in\n Collingwood, Ontario and Fort Fr...